Peru Commends CFC's Excellent Work Partnership
Amsterdam, 17 February 2025 – H.E. Ms. Franca Deza Ferreccio, Governor of the Common Fund for Commodities (CFC) for Peru and Ambassador of Peru to the Netherlands, paid a visit to the CFC Secretariat. Ambassador Sheikh Mohammed Belal, Managing Director of the CFC, warmly received Ambassador Ferreccio, who was accompanied by Ms. Sandra Rodriguez, Counsellor, and Mr. Carlos Diaz, Attaché on Cooperation Matters, from the Embassy of Peru. The meeting focused on strengthening bilateral ties, exploring new avenues for collaboration, and addressing shared global challenges.
Ambassador Belal provided an overview of the CFC’s ongoing initiatives and the growing demand for its services. He highlighted the organization’s tangible impact in promoting sustainable development and poverty alleviation, particularly in the face of global crises. Emphasizing the need for collective action, he underscored the importance of partnerships like the one between Peru and the CFC to drive meaningful change.
During the discussions, Ambassador Belal stressed the importance of further developing value chains to maximize benefits for farmers, reduce poverty, and combat hunger. He also encouraged Peru to explore innovative approaches to enhance its tea processing industry, enabling farmers to achieve greater economic returns. Additionally, Ambassador Belal urged Peru to share its success stories and best practices with the global community, inspiring other nations and contributing to the replication of effective strategies worldwide.
Ambassador Ferreccio expressed her deep appreciation for the CFC’s work, particularly its “excellent contributions” to sustainable development. She praised the CFC’s innovative initiatives, including the visionary concept of *Humanizing Value Chains*, which has been instrumental in fostering inclusive and equitable growth. Ambassador Ferreccio also mentioned Peru’s interest in exploring potential projects in the mineral sector, noting that the CFC’s extensive experience in this area could be highly beneficial. Ambassador Belal readily agreed, highlighting the CFC’s significant past work with minerals and expressing enthusiasm for future collaborations in this field.
Ambassador Belal emphasized the growing importance of integrating the “Humanizing Value Chains (HVC)” approach into the mineral sector. He noted that this approach would ensure local communities and individuals feel directly benefited and included in mining activities within their regions. “The human element is what is missing in many value chains today, and the CFC is determined to address this gap,” he stated.
Ambassador Belal acknowledged Peru’s strong relationship with the CFC, describing the country as a “standard-bearer in the commodity sector.” He expressed CFC’s eagerness to see increased investments in Peru, particularly in areas where the organization has already demonstrated innovative success. One such example is the CFC’s groundbreaking work in the Peruvian Amazon, where it utilized a “Development Impact Bond” to achieve measurable development outcomes. Ambassador Belal suggested revisiting this model, which has been documented in a publication(Development impact bonds: learning from the Asháninka cocoa and coffee case in Peru), as a potential framework for future projects.
The meeting concluded on a highly positive note, with both parties reaffirming their commitment to deepening the partnership between Peru and the CFC. Ambassador Ferreccio expressed Peru’s strong desire to strengthen collaboration with the CFC, particularly in areas that align with the country’s development priorities and the CFC’s mission of fostering sustainable and inclusive growth.
As the discussions highlighted, the CFC’s innovative approaches, combined with Peru’s leadership in the commodity sector, present a unique opportunity to drive transformative change. Both parties look forward to building on their shared successes and exploring new avenues of cooperation that benefit local communities and contribute to global sustainable development goals.